Hosting a New Year’s Eve party is a great way to ring in 2022. But having lots of guests over can get expensive. If you don’t have much spare cash after buying Christmas gifts, you may be wondering if you can afford to throw a NYE bash. Luckily there are ways to cut costs so you can have a fun gathering without blowing your limited budget. Here are some ways to save money on a tight budget, New Year’s Eve party edition.
Ways to Save Money on a Tight Budget For Your New Year’s Eve Party
1. Email Your Invitations
Paper invitations are expensive and bad for the environment. Your guests will throw out your invitation as soon as they mark the party in their calendars. So don’t waste your money on fancy save the date cards. Invite your guests over email instead using a free e-vite from Punchbowl or Evite.com.
2. Don’t Buy a New Outfit
Everyone wants to look their best on New Year’s Eve, especially if they’re trying to get a midnight kiss. But buying a sparkly party dress from the mall will leave a big hole in your wallet.
If you want to dress to impress on a budget, try using a service like Rent the Runway. You’ll be able to rent the latest fashions for much less than it costs to buy them at the mall.
Shopping at thrift or consignment stores is also a great way to save money without compromising style. You could even borrow an outfit from a friend who wears the same size clothes as you to conserve cash.
3. Buy Affordable Bubbly
You can’t have a New Year’s Eve party without bubbly. A good bottle of champagne can cost $50 or more, which is probably outside your tight budget. But you can get sparkling wine that looks and tastes a lot like champagne for $20 or less.
To save even more money, shop at a discount liquor store and buy in bulk. Many retailers will give you a 15% to 20% discount if you buy a certain number of bottles, which is helpful if you’re having a big party.
4. Make the Party BYOB
Buying enough alcohol for a group can get expensive even if you secure a bulk discount. If you can’t afford to supply all the libations yourself, ask your friends to chip in and bring a bottle of their favorite wine. That way you won’t blow your whole party budget on alcohol.
5. Serve Light Refreshments
Serving light refreshments is a great way to save money on a tight budget when hosting a New Year’s Eve party. If you start your NYE bash after dinnertime, you can pass out finger foods instead of giving your guests a full dinner. Chips and dips are much cheaper than entrees, so you’ll save a lot of money by going this route.
6. Save on Snacks Using Rebate Apps
Grocery store prices have risen substantially this year, making it harder to feed a crowd on a budget. That’s where coupons and rebate apps come in. Digital coupons can help you save on chips, dips, and other snacks. You can search for coupons from your favorite brands on websites like Coupons.com and The Krazy Coupon Lady.
You can also stack coupons with rebates from apps like Ibotta and Checkout51 to save even more money. All you have to do is select the rebates you want to redeem and scan your receipt to claim your cash back. Ibotta has hundreds of offers available on everything from name-brand sodas to frozen pizza, so you’ll be able to get everything you need for your New Year’s gathering at a discount.
7. Have a Potluck
Even if you use rebates and coupons, you may not have a big enough budget to feed everyone on your guest list. If that’s the case, host a potluck instead. Ask all your friends to bring their favorite finger food or dessert to share. If everyone pitches in, there should be more than enough food to go around.
8. Make Homemade Decorations
Homemade decorations are much cheaper than store-bought and will still add a festive touch to your New Year’s party. You can make party hats, banners, and streamers out of a cheap package of construction paper. You can even make DIY party blowers using crepe paper and leftover cardboard tubes from your paper towels.
9. Skip the Party Favors
Handing out favors to your guests at the end of your party is a nice touch if you can afford them. But no one will miss them if they’re not in your budget, so don’t feel bad if you can’t give everyone favors. After all, you’ve just treated your guests to free food and sparkling wine. If anything, they should probably be giving you gifts!
10. Find Free Entertainment
Hiring a professional DJ or entertainer probably isn’t in your budget, but that doesn’t mean you can’t have a great time. There are lots of free ways to entertain your guests and make your New Year’s party one to remember.
Our favorite cheap party activity is playing board games. They bring out everyone’s competitive side and are especially fun when you have a large group of people. Singing and dancing along to a homemade playlist is another good way to ring in 2022. You could even host a movie night and watch classic films until the ball drops.
What are your favorite ways to save money on a tight budget for a New Year’s Eve party? Let us know in the comments section below!
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Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.
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